62-year-old oil tycoon and fashionista, Folorunsho Alakija, has reportedly unseated media executive, talk show host, and philanthropist, Oprah Winfrey.

According to American business magazine, Forbes magazine, Alakija’s fortune has been estimated at $600 million, as of November 2012, however, the magazine’s editor-in-chief Uzodinma Iweala said his researchers were ‘closer to the ground.’

Expatiating the reports, they noted that Brazilian oil company, Petrobas, was looking to sell its 8 per cent stake in OML 127 for $1.5- $2.5 billion, and extrapolated that if they managed to sell it for $1 billion, Alakija’s 60 per cent stake would be worth at least $7.3 billion.

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